Hawk Exploration Ltd. (TSXV:HWK.A)
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CALGARY, July 7, 2011 /CNW/ --
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./
CALGARY, July 7, 2011 /CNW/ - Hawk Exploration Ltd. ("Hawk" or the
"Corporation") is pleased to announce that it has successfully received
all necessary approvals in respect of the previously completed bought
deal private placement of 12,500,000 subscription receipts
("Subscription Receipts") at an issue price of $0.80 per Subscription
Receipt for aggregate gross proceeds of approximately $10.0 million
(the "Offering"), completed on May 18, 2011, including, but not limited
to, approval of the TSX Venture Exchange (the "TSXV") with respect to
the Offering and all other necessary shareholder, corporate and
regulatory approvals (collectively, the "Escrow Release Conditions").
The Offering was conducted by a syndicate of underwriters led by
National Bank Financial Inc. and including Fraser Mackenzie Limited and
Haywood Securities Inc.
With the satisfaction of the Escrow Release Conditions, 12,500,000
subscription receipts issued pursuant to the Offering were deemed to be
exercised for an aggregate of 12,500,000 Class A shares of Hawk for no
additional consideration or action on the part of the holder. The Class
A Shares will be subject to a hold period under applicable Canadian
securities laws expiring on September 19, 2011.
Annapolis Investment Limited Partnership V and Annapolis Investment (US)
Limited Partnership V (collectively, "Annapolis") purchased 10,000,000
Subscription Receipts pursuant to the Offering. After the conversion of
the Subscription Receipts into Class A Shares, Annapolis owns
10,000,000 Class A Shares, representing approximately 29% of the
Corporation's outstanding share capital resulting in Annapolis becoming
a new Control Person (as that term is defined under the policies of the
TSXV).
Hawk is also pleased to announce Peter Williams as a newly appointed
board member. Mr. Williams is currently the President, Chief Executive
Officer and a director of Annapolis Capital Limited. Mr. Williams holds
a Bachelor of Laws and a Bachelor of Arts (Economics) from Dalhousie
University.
Hawk is an emerging Corporation engaged in the exploration, development
and production of conventional crude oil and natural gas in western
Canada and is based in Calgary, Alberta. The Class A Shares and Class B
Shares of Hawk trade on the TSXV under the trading symbols of HWK.A and
HWK.B, respectively.
Cautionary Statements:
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as the term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities in any jurisdiction. The
Class A Shares offered have not and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities
Act") or any state securities laws and many not be offered or sold in
the United States except in certain transactions exempt from the
registration requirements of the U.S. Securities Act and applicable
states securities laws.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/July2011/07/c4138.html
table border="0" tr td bSteve Fitzmaurice/b /td td bDennis Jamieson /b /td /tr tr td President, CEO and Chairman /td td Chief Financial Officer /td /tr tr td Tel: (403) 264-0191 Ext 225 /td td Tel: (403) 264-0191 Ext 234 /td /tr tr td Email: a href="mailto:steve@hawkexploration.ca"steve@hawkexploration.ca/a /td td Email: a href="mailto:dennis@hawkexploration.ca"dennis@hawkexploration.ca/a /td /tr /table